Since the shoemakers are often the worst shod, it is the people in charge of fighting inflation who find themselves harmed by this scourge that they had not been able to anticipate.
Employees of the European Central Bank (ECB), whose official mandate is to maintain price stability, are threatening to go on strike to demand wage increases.
They refuse a proposed increase of 4.07% in January, on the grounds that this represents half the level of average inflation in the euro zone expected for this year (it was even 10% in November).
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The big European fundraisers are watching wage demands in the euro zone like milk on the fire, in order to avoid the so-called "second round" inflationary effects, i.e. the runaway price-wage spiral .
The 4.07% increase would therefore be proportionate to this macroeconomic objective.
"People are losing faith in this institution
," protests Carlos Bowles, vice-president of the Ipso union, which represents central bank employees.
The management of the ECB tells us: “Sorry, we missed our inflation target and you, the employees, will pay the price”.
The staff representatives met the president, Christine Lagarde, who allegedly told them that she had no room for negotiation.
The unions are now examining their appeals and are not ruling out a strike.
Christine Lagarde is due to present next Thursday the new inflation forecasts of ECB economists.